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Operational Risk Jobs in Baltimore, MD (NOW HIRING)

Aegon

Head of Credit Risk

Baltimore, MD · On-site

Ensure new asset management arrangements meet operational risk requirements in partnership with nonfinancial risk teams. * Integrate with financial risk management to ensure comprehensive coverage of ...

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Operational Risk information

See Baltimore, MD salary details

$38.8K

$85.3K

$154K

How much do operational risk jobs pay per year?

As of Jun 9, 2026, the average yearly pay for operational risk in Baltimore, MD is $85,293.00, according to ZipRecruiter salary data. Most workers in this role earn between $65,100.00 and $103,800.00 per year, depending on experience, location, and employer.

How does an Operational Risk professional typically interact with other departments within an organization?

Operational Risk professionals work closely with a variety of teams, such as compliance, internal audit, IT, and business units, to identify and assess risks that could impact the organization's operations. They often facilitate risk assessments, lead training sessions on risk awareness, and collaborate on developing controls and mitigation strategies. Building strong relationships and communicating effectively across departments is essential, as much of the role involves influencing others and ensuring risk management practices are integrated into daily operations.

What is operational risk?

Operational risk refers to the potential for losses resulting from inadequate or failed internal processes, people, systems, or external events. Unlike credit or market risk, operational risk is related to the day-to-day operations of a business and can include issues such as fraud, system failures, natural disasters, or human error. Managing operational risk is essential for organizations to ensure business continuity, regulatory compliance, and to protect their reputation and assets.

What is the difference between Operational Risk vs Credit Analyst?

AspectOperational RiskCredit Analyst
Required CredentialsCertifications like FRM, PRM often preferredCertifications such as CFA, credit-specific courses
Work EnvironmentBanking, financial institutions, risk management departmentsBanking, lending institutions, financial services
Employer & Industry UsageUsed across financial sectors to manage risksUsed in lending to assess creditworthiness
Comparison Search IntentUnderstanding risk management rolesAssessing credit risk and loan eligibility

Operational Risk focuses on identifying and mitigating risks within business operations, including processes, systems, and people. Credit Analysts evaluate the creditworthiness of individuals or companies to determine loan eligibility. While both roles are within the financial industry, Operational Risk professionals concentrate on risk management frameworks, whereas Credit Analysts focus on credit assessment and lending decisions.

What are the key skills and qualifications needed to thrive as an Operational Risk professional, and why are they important?

To thrive as an Operational Risk professional, you need strong analytical skills, risk assessment expertise, and a background in finance, business, or risk management, often supported by relevant certifications such as FRM or ORM. Familiarity with risk management frameworks, data analysis tools, and governance, risk, and compliance (GRC) systems is typically required. Exceptional communication, attention to detail, and problem-solving abilities are crucial soft skills for identifying risks and collaborating across departments. These skills ensure that operational risks are effectively identified, assessed, and mitigated, protecting the organization from potential losses and regulatory issues.
What are popular job titles related to Operational Risk jobs in Baltimore, MD? For Operational Risk jobs in Baltimore, MD, the most frequently searched job titles are:
What job categories do people searching Operational Risk jobs in Baltimore, MD look for? The top searched job categories for Operational Risk jobs in Baltimore, MD are:
Operational Risk jobs near you
Infographic showing various Operational Risk job openings in Baltimore, MD as of May 2026, with employment types broken down into 82% Full Time, 17% Part Time, and 1% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $85,293 per year, or $41 per hour.

Senior Manager, Operational Risk - Investment & Asset Management

Aegon

Baltimore, MD

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 22 days ago

Job description

Job Family

Operational Risk

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.

Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment - one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.

Who We Are

We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.

Today, we're part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what's important to them.

We're empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good - for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.

What We Do

Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It's part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.

Job Description Summary

This new second line operational risk management role will provide independent oversight of the activities and day-to-day execution of the Investment Office, delivering strong independent oversight and constructive challenges to the first line. This role will ensure operational risk and control considerations are established and embedded across new and existing asset classes, and will oversee the identification, assessment, monitoring, and reporting of key risks for the business landscape. It will partner closely with a growing first line investment organization and external asset managers.

Job Description

Responsibilities

  • Partner closely with the Investment Office to deliver independent, forward-looking operational risk assessments across business activities, programs, and initiatives.
  • Serve as a trusted advisor and operational risk subject matter expert, providing credible challenges and practical guidance to investment leadership and management.
  • Shape and advance the operational risk strategy for the Investment Office, including annual priorities, objectives, and risk maturity goals.
  • Lead enterprise grade Process Risk Assessments, translating results into clear, actionable insights for senior leadership.
  • Own the end-to-end lifecycle of risk issue management, from identification and root cause analysis through action tracking, escalation, and outcome reporting.
  • Develop and maintain the quarterly Investment Office operational risk profile, highlighting key risk themes, trends, and emerging exposures.
  • Challenge the design and effectiveness of processes and controls, recommending enhancements that improve resilience, efficiency, and execution quality.
  • Assess the adequacy of management decisions and actions through a risk lens, providing independent oversight and constructive challenges.
  • Drive adherence to the Global Operational Risk Management framework, including risk assessments, KRIs, scenario analysis, and risk reporting.
  • Collaborate across Risk, Compliance, IT, Internal Audit, and global ORM partners to strengthen risk practices, share insights, and embed a strong risk culture.

Qualifications

  • Bachelor's degree in finance, Accounting, Economics, or a related discipline
  • Ten years of experience in investment operations, asset management or a related second-line risk role within financial services or insurance
  • Deep understanding of investment management activities, including portfolio management, trading operations, asset servicing, valuation and investment data flows
  • Proven ability to provide independent challenges and credible advisory support to investment management and senior stakeholders
  • Experience partnering across control functions (Compliance, IT, Finance, Internal Audit) and influencing outcomes without direct authority
  • Strong risk reporting expertise, including development of quarterly risk profiles, executive dashboards, and clear risk narratives for senior leadership and governance forums
  • Excellent written and verbal communication skills, with the ability to translate complex risk concepts into clear, decision-useful insights.
  • Ability to work in a fast-paced organization and prioritize multiple initiatives
  • Ability to present and interact with various levels of management and build relationship with peoples at all levels

Preferred Qualifications

  • Professional certifications such as CPA, CIMA, CFA, CAIA, CIA or CISA or equivalent risk or investment credentials

Working Conditions

  • Hybrid Office Environment
  • Moderate Travel to conduct risk activities

Compensation

  • The Salary for this position generally ranges between$135,000 - $180,000 annually.Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors includingqualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
  • Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company's discretion.

Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration-related employment authorization sponsorship.

This is a hybrid position requiring three days in office per week in one of our hub locations (Cedar Rapids, Philadelphia, Baltimore, Denver).

Disclaimer:
Beware of fake job offers!

We've been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions. Please note:

  • We will never request personal information such as ID or payment for equipment upfront.
  • Official offers are sent via DocuSign following a verbal offer-not through text or email.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

  • Competitive Pay

  • Bonus for Eligible Employees

Benefits Package

  • Pension Plan

  • 401k Match

  • Employee Stock Purchase Plan

  • Tuition Reimbursement

  • Disability Insurance

  • Medical Insurance

  • Dental Insurance

  • Vision Insurance

  • Employee Discounts

  • Career Training & Development Opportunities

Health and Work/Life Balance Benefits

  • Paid Time Off starting at 160 hours annually for employees in their first year of service.

  • Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).

  • Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

  • Parental Leave - fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.

  • Adoption Assistance

  • Employee Assistance Program

  • Back-Up Care Program

  • PTO for Volunteer Hours

  • Employee Matching Gifts Program

  • Employee Resource Groups

  • Inclusion and Diversity Programs

  • Employee Recognition Program

  • Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We're thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica's Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

* As of December 31, 2023

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